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“Exposing & Combating Liberal Media Bias”
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Charles GeisstABC Goes Retro – Trots Out 20 Year Old Anti-Wall Street Flicks During Banking Crisis BailoutsCoverage of the banking crisis is everywhere. Pundits and politicos claim the instability is threatening the financial markets and the overall economy. However, ABC's Sept. 22 "World News with Charles Gibson" used the crisis to take a swipe at the wealthy. "In just six months, five major investment banks have now vanished from the landscape, ending an era of aggressive deal making and spectacular profits," Stark said. "These masters of the universe immortalized by Hollywood have been humbled." The two movie examples Stark used in her report -"The Bonfire of the Vanities" from 1990 and "Wall Street" from 1987 - portrayed businessmen as greedy and immoral. Dow Defies Gloomy CBS PredictionsIf you watched the October 28 CBS “Evening News,” you would probably have been expecting a rough ride today based on their reporting. The likely ousting of Merrill Lynch CEO Stanley O’Neal prompted CBS correspondent Randall Pinkston to tell viewers to expect the worst as far as the stock market goes. “O'Neal's likely exit sets the stage for another rough ride on Wall Street this week with more dramatic peaks expected in crude oil prices which hit nearly $92 a barrel last week and further uncertainty in the housing market,” Pinkston said. However, in the short-term, that’s not the case. The Dow Jones Industrial Average finished up 64 points to close at 13,869 one day after his gloomy report. And, investors even welcomed the news of the shakeup at Merrill Lynch (NYSE:MER), as its stock finished up 2 percent. |
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